Twitter is growing, but its bank account isn’t
Twitter is finally showing signs of life after months — years, even — of flatlining.
The social media behemoth today released its quarterly report for Q1 2017, which didn’t, at first glance, look very encouraging. It still can’t seem to turn a profit. Its quarterly losses total about 7-percent. Revenue was higher than expected at $548 million, but that’s still a total loss of $62 million.
Still, that’s the smallest net loss the company’s posted since before 2015. It’s certainly better than last quarter, where they posted a $167 million in net loss.
The site also boasts 328 million monthly users, which is nine million more than it had last quarter and an all-time high if the companies growth charts are anything to go by. Twitter may not have the best monetization mechanism at the moment, but it’s got the people.
Perhaps this uptick in users is why the company announced earlier its plans to have 24/7 live video on the app. As Abhi pointed out, more video means more unskippable ads, which, combined with more people to watch, could translate to more money for the company.